The transition from a tri-merge to a bi-merge credit model by GSEs Fannie Mae and Freddie Mac is delayed amid industry concerns and legislative discussions.
This change will coincide with the retirement of Classic FICO, introducing new credit score requirements, but no clear timeline for implementation is provided currently.
Legislative interest has spurred additional scrutiny; some lawmakers are advocating for codifying the tri-merge system into law, reflecting significant industry apprehensions.
Amid delays, FHFA has committed to revisiting industry feedback, indicating a cautious approach to transitioning credit assessment models.
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